SADC Lac-St-Jean Ouest — Acquisition + Loan
grant_single|update January 24, 2025
QC, Canada
Supports equipment acquisition for businesses operating over three years
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- SADC Lac-St-Jean Ouest
grant_single|status
grant_card_status|open
grant_single_labels|preview
The SADC Lac-St-Jean Ouest — Acquisition + Loan offers businesses up to $150,000 to support acquisition projects such as purchasing equipment, buildings, or rolling stock. Eligible businesses must be over three years old and currently profitable, with the loan providing flexible terms for up to 120% financing.
grant_single_labels|terms_and_conditions
This grant offers structured financing modalities to assist businesses in acquiring essential assets without personal guarantees, thereby enhancing their operational capacity. Clear and defined terms ensure streamlined access to necessary resources.
- Maximum loan amount of $150,000 per business, with potential exceptions up to $300,000 subject to certain conditions.
- Interest rate set at the base business rate plus an additional 2%.
- Loan tenure of up to 120 months.
- No requirement for personal guarantees; provision for 1st, or potentially 2nd, rank security with lesser financing.
- Option for additional security measures.
- Permits early repayment up to a maximum of 20% per year.
grant_single_labels|projects
This grant facilitates the acquisition of significant assets necessary for the growth of established businesses. It provides financial support for purchasing equipment, property, or mobile materials essential for business development.
- Acquisition of new equipment.
- Purchase of buildings.
- Procurement of mobile materials and machinery.
grant_single|admissibleProjectsExample
$ 100,000
Develop an urban greenhouse for sustainable agriculture
grant_single_labels|admissibility
Eligibility for the SADC Lac-St-Jean Ouest Acquisition + Loan is determined by certain conditions that applicants must meet.
- The business must have been in operation for more than 3 years.
- The business must be profitable.
grant_eligibility_criteria|who_can_apply
This grant is specifically designed for businesses that have been operational for more than three years and are seeking to acquire new equipment, buildings, or rolling stock. The business must be financially viable, and the funding is targeted at established companies looking to expand their operational capacity.
grant_eligibility_criteria|eligible_expenses
This loan supports specific acquisition expenses to enhance existing businesses.
- Acquisition of new equipment.
- Purchase of buildings for business use.
- Procurement of rolling stock.
grant_single_labels|apply
Here are the steps to submit an application for this grant:
- Step 1: Initial Inquiry
- Contact the SADC Lac-St-Jean Ouest office to express interest in the Acquisition + Loan.
- Discuss your acquisition project to determine eligibility and suitability for the loan application.
- Step 2: Gather Required Documentation
- Prepare documentation related to the financial status of your business.
- Ensure all necessary information about the equipment, building, or material intended for acquisition is compiled.
- Step 3: Complete Application Form
- Obtain the official application form from the SADC Lac-St-Jean Ouest.
- Fill out the application with accurate and detailed information about the project.
- Step 4: Submit Application
- Submit the completed application form alongside the gathered documents to the SADC Lac-St-Jean Ouest.
- Confirm submission and inquire about next steps in the review process.
- Step 5: Application Follow-up
- Engage in follow-up communication as advised by the SADC officials.
- Participate in any necessary meetings or discussions to support your application.
grant_single_labels|otherInfo
Here are additional relevant details for this loan:
- The interest rate is the base rate for businesses plus an additional 2%.
- The loan can be amortized over a period of up to 120 months.
- No personal guarantee is required on a first-rank basis, and there is the possibility of a second rank with lesser financing.
- Additional guarantees may be required depending on specific conditions.
- Early repayment is allowed, up to a maximum of 20% per year.
- Personalized assistance and rigorous follow-up are provided by SADC professionals throughout the loan term.